US demand continues to grow, the Asian economy continues to expand and the recovery in demand in Europe, the global specialty chemicals market is a good sign. American Chemistry Council (ACC) and therefore optimistic about 2018, global specialty chemicals market prospects and forecasts, the global specialty chemicals After the 2.5% increase in output in 2017, the growth rate will accelerate to 3% this year.
ACC had predicted in the context of the overall emergence of a global economic recovery in 2017, global specialty chemicals production will grow by 3.3%. However, affected by weak end-market oil and gas drilling industry performance, specialty chemicals output growth in 2017 ultimately fell short of expectations. However, Industry observers generally agree that the 2018 market environment is better than 2017, the performance of the world's specialty chemicals worth the wait.
According to Ray Will, head of IHSMarkit, some emerging market trends are expected to stimulate demand for specialty chemicals such as the rapid development of the electric vehicle industry and the elimination of fluoride coolants in domestic refrigerators, etc. China plans to introduce a quota system for electric vehicles from 2019 Starting with the requirement that all car manufacturers own at least 10% of EVs sold in China and the ratio will increase year by year, the implementation of this policy will stimulate the demand for battery materials and electrolyte solutions.
Credit rating agency Fitch Ratings said that if the electric car can be popular in the United States, chemical manufacturers will undoubtedly usher in a "honeymoon period." It is understood that the cost of manufacturing a conventional car chemical products consumed about 3,000 dollars, while an electric The value of the chemical products consumed by the car is as high as 10,000 US dollars, most of the chemical products and battery-related.
Manufacturers in the refrigeration sector are looking for coolants that have less of a contribution to global warming.Will said that due to the high cost of hydrofluorocarbons, many domestic refrigerator manufacturers, especially those in Europe and Japan, have not opted for hydrofluorocarbons Hydrocarbon refrigerant, but turned to hydrocarbon refrigerants.
Phil Phillips, president of Chemark Consulting, predicts that the paint and coatings industry will benefit from the global economy, especially in the United States, where the tax reforms introduced by the government will effectively stimulate consumption and that new machinery and equipment will require large amounts of paints and coatings. Global production of paint and coatings will increase by about 3.5% in the year and the production of adhesives will also increase at a similar rate. In particular, the demand for polyurethane adhesives for assembling and sealing automotive body parts will increase significantly.
Consumer demand for personal care chemicals will continue to grow, said Kunal Mahajan, a chemical project manager at Kline, a consulting firm, which formulates cosmetics to protect the skin from air pollution, since the blue filter protects the skin from the radiation of the computer screen , So that consumers demand for related products continue to grow.